Task 1. (50 marks) Kims IT is a small local company that provides information technology services to small businesses in Dong-gu area of Daejeon. The company has been operating successfully for two years and has the following account balances entering April: Cash $8,000; Accounts Receivable $1,500; Supplies $5,000; Computers (net) $15,000; Accounts Payable $300; Bank Loan Payable $3,500; Common Shares $50; Retained Earnings $25,650. The following transactions occurred in April: April 1 Paid off account payable owing from March. April 3 Paid $3,000 for advertising for April. April 4 Purchased supplies on account: $1,000. April 6 Collected the $1,500 receivable from March. April 8 Received but did not pay a $250 electricity bill. April 12 An employee who was short of money borrowed $500. He signed a note and promised to repay the company after payday. He is a good employee, and the company chose not to charge him any interest or fees. April 15 Paid employees salaries of $4,000. April 18 Employee repaid the $500 loan. April 20 Borrowed $10,000 from the bank to purchase new computers. April 21 Purchased new computers $8,500. April 24 Received and paid telephone bill $150. April 26 Paid employees salaries of $4,000. April 29 Paid electricity bill received on April 8. April 29 Mr. Kim, the company's CEO, has bought a brand new large screen TV using his savings to watch at home with his family. April 30 Paid interest on the loans for the month of $100. April 30 Billed $18,000 for the month of tutoring service. Collected $16,000 in cash, awaiting payment for the remainder. Required: a.) Record all necessary journal entries based on the transactions above. For transactions that you cannot record, you need to explain why you cannot record that transaction. b.) Post the transactions to T-Accounts. c.) Prepare a trial balance dated April 30.